Mexico is set to receive a windfall of US$2.9 billion from its oil hedges for 2016, according to data from an International Monetary Fund report. A second year of plummeting crude prices mean the put option the country invested in will pay off again.

In the past decade, Mexico has averaged almost US$1 billion a […]

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Canadian company International Frontier (IFR) has announced that its Mexican partner Tonalli Energía identified higher than expected targets for the Tecolutla Block, which it won in the third phase of Mexico’s first licencing round.

The Canadian firm said in a press release on Monday that “significantly higher and thicker” areas of the onshore reservoir have […]

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Last week Mexico’s oil regulator approved a US$177 million work program for the three offshore blocks won by Italian company ENI in 2015’s Round 1.2.

 

The plan, which spans 2017, includes the drilling of four wells and has been reduced from its previous value of US$245 million after production costs and drilling time resulted […]

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Global News

Growing hopes for OPEC deal

Oil prices ended the week on a high, with Brent and US crude both rising by around 5 percent. The increases come amid anticipation that OPEC will come to an agreement to cut production at the end of this month.

http://www.reuters.com/article/us-global-oil-idUSKBN13D04R

 

Obama restricts access […]

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